SBI will transfer 2,498 crores to the accounts of these people from today, know why?

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SBI Funds Management (SBI MF) will distribute Rs 2,489 crore from today under the next installment to the unitholders of the six schemes of Franklin Templeton Mutual Fund.

Payment will be done digitally

Franklin Templeton is good news for investors investing in closed schemes of mutual funds. SBI Funds Management (SBI MF) will distribute Rs 2,489 crore from today under the next installment to the unitholders of the six schemes of Franklin Templeton Mutual Fund. SBI MF has already disbursed Rs 12,084 crore to investors. It had disbursed Rs 2,962 crore during the week commencing on 12 April 2021.

A spokesperson for Franklin Templeton Mutual Fund said, SBI Mutual Fund will disburse Rs 2,488.75 crore to the unitholders of the six schemes under the next installment. He said, the investors whose account is updated KYC, will be paid during the week commencing on Monday 3 May 2021.

The spokesman said that the payment to the unitholders will be made proportionately based on the net asset value (NAV) of the unit on 30 April. SBI MF will make payments to eligible investors in a digital manner.

Payment will be done digitally

The Supreme Court has appointed SBI MF as the liquidator for the closure of the schemes. If the bank account of the unit holders is not eligible for payment either digitally or electronically, a check or ‘demand draft’ will be sent to its registered address.

Explain that in March, the Supreme Court accepted the standard operating procedure prepared by SBI MF to market the properties and distribute the proceeds from it to the unitholders to return the money to investors who invested in the six bond schemes of Franklin Templeton. Was

Six schemes were closed on 1 April 2020

Franklin Templeton MF closed six bond mutual fund schemes in April 2020. The company had announced the closure of the schemes citing lack of cash in the bond market and pressure to capitalize on investment. Last week, some media reports claimed that this American mutual fund company is preparing to exit India. She told market regulator SEBI that if she does not have a fair and impartial hearing, she will exit the Indian market. However, later the company has said that it is committed to the Indian market and has no intention of getting out of this market.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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